SENTRY TO ACQUIRE ANCHOR MANAGING GENERAL AGENCY
STEVENS POINT, Wis. – Sentry Insurance will acquire Anchor Managing General Agency (MGA) based in Montgomery, Ala.
Anchor is a managing general agency serving the states of Alabama and Mississippi by writing standard commercial insurance business through 350 independent insurance agencies. In purchasing Anchor, Sentry will assume underwriting responsibility for the book going forward.
"Sentry is very pleased to be entering the independent agency general commercial market through Anchor," said Pete McPartland, Sentry chairman of the board, president and CEO. "Anchor has served the independent agency community with distinction in their 23 years. In Sentry, they have selected a partner who can best align with their values and commitment to providing a stable market for their agents and policyholders."
Anchor MGA is a third generation managing general agency and has maintained strong relationships with independent agencies in the Southeast. It offers commercial insurance products designed for main street businesses through independent agents in Alabama and Mississippi. Products include the following commercial policy types: package, property, inland marine, general liability, commercial automobile and commercial umbrella.
In joining one of the nation's largest and financially strongest mutual insurance companies, Anchor will benefit from greater market stability. Its agents will also be able to write business using Sentry's A+ rating.
"Needless to say I am very excited about the future for Anchor MGA," said CEO John W. "Billy" Kitchens. "My father would be so pleased to know that Sentry's investment in Anchor will provide our agents with a strong future to build on."
Anchor's employees will become Sentry associates, continuing to work from Montgomery, McPartland said.
Sentry Insurance is one of the largest and strongest mutual insurance companies in the United States, holding an A+ (superior) rating from A.M. Best. The company and its subsidiaries sell property and casualty insurance, life insurance, annuities and retirement programs for businesses and individuals throughout the country. Headquartered in Stevens Point, Wisconsin, Sentry employs more than 4,000 associates in 41 states. A complete list of underwriting companies can be found at www.sentry.com